Prime Super cuts administration fees and simplifies investment menu to enhance member outcomes

Prime Super has announced reductions in administration fees alongside updates to its investment menu to ensure products remain aligned to members’ needs.

From 1 June 2026, administration fees and costs paid by a member, for an account with a $50,000 balance will reduce by 27% for accumulation and 24% for pension¹.

Prime Super CEO, Raelene Seales, said the changes reinforce the Fund’s commitment to delivering better retirement outcomes for members.

“We’re pleased to reduce administration fees and costs for our members. Keeping fees competitive while helping members reach their retirement goals is a key priority for us. These changes also ensure a fair and appropriate distribution of costs in line with market practice.”

Members and prospective members are currently being notified of these fee changes.

As part of its ongoing product review, the Fund has also refined its investment menu to ensure options remain fit‑for‑purpose.

In May, the Fixed Interest option will be discontinued for all members. The Fund determined that this option is operating below the scale required to be equitable and has not consistently met performance objectives over time.

The Income Focused option will also close to accumulation members but will remain available for members in the pension phase. The option is designed to preference income over capital returns, to support regular income payments, making it more appropriate for retirees.

General Manager, Investments, Michael McQueen, said the changes are part of Prime Super’s ongoing commitment to improving member outcomes.

“It’s important that our product offering evolves to reflect the different stages of our members’ retirement journeys. Streamlining the menu ensures that we continue offering products that meet our performance expectations and are aligned to member needs at each stage of their journey.”

Members are encouraged to speak with a Prime Super specialist to understand their investment choices and determine the most suitable option for their circumstances. You can book a complimentary 15‑minute consultation below. 

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^{1 The dollar amount of administration fee reduction received by members will vary based on account balance.}  

_{This article is current at the date of publication and is subject to change. It contains general information only and does not take into account of your specific objectives, financial situation or needs or personal circumstances. You should seek personal advice or professional financial advice, consider your own circumstances and read our Product Disclosure Statement (PDS) before making a decision about Prime Super. For a PDS and Target Market Determination call 1800 675 839 or visit the primesuper.com.au/pds. Prime Super Pty Ltd ABN 81 067 241 016 AFSL 219723 RSE L0000277 is the (Trustee), of Prime Super ABN 60 562 335 823 RN 1000276.}